December 1, 2022

519 Magazine

Complete News World

The U.S. Senate passed a major innovation law to counter China’s influence

U.S. Senate gives green light to historic law on technological innovation (EFE / Tasos Katopodis)

The U.S. Senate on Tuesday approved a bill that would allow large investments in science and technology, Is presented as a “historical” text to counter the economic threat from China and its “dictatorial” model.

The project spends more than $ 170 billion on research and development with the aim of encouraging companies to manufacture semiconductors in the United States.

The global shortage of these components, mainly manufactured in Asia, affects many key sectors, such as the automotive and telecommunications industries., Illustrates the importance of being able to produce them.

The text received 68 votes in favor and 32 votes in the Senate. Now it has to be formally approved by the House of Representatives, with a date yet to be set, and signed by President Joe Biden.

The Democrat leader celebrated the adoption of the bill on Tuesday, he said in a statement America is immersed in the “race to win the 21st century.”.

“Even if other countries continue to invest in their own research and development, we will not back down. The United States must maintain its position as the most innovative and productive country in the worldBiden announced.

Chuck Schumer, Speaker of the Senate Majority (Photo: REUTERS / Jonathan Ernst)
Chuck Schumer, Speaker of the Senate Majority (Photo: REUTERS / Jonathan Ernst)

The economic war with the United States since Donald Trump’s tenure has been one of the few things that China and Biden have agreed with its Republican forerunner, which has a broad consensus in Congress.

This bill will go down in history as one of the most important things this room has done in a long time.Senate Majority Leader Chuck Schumer said in a plenary session before the vote.

See also  Neymar's message on PSG's 'KO' ...

“Whoever wins the competition for future technologies will be the leader of the global economy, with profound implications for foreign policy and national security,” he added.

Senate Republican Minority Leader Mitch McConnell regretted that the plan had abandoned some of the measures, but eventually voted in favor. “From vital supply chains to intellectual property and counter-intelligence, it refers to key questions that have helped define our strategic foundations for decades.”, He promised.

The proposed investment “provides an opportunity for the United States to take a step back in response to the unfair competition we see from the Communist Party of America,” said Roger Wicker, the trade union’s number two Republican.

Washington has often accused Beijing of threatening industrial intelligence and its national security.

The bill expects allocation $ 52,000 million for a project to increase national production of these components.

The congressman said in his presentation that the Chinese Communist Party was investing “substantially, more than 150,000 million” in these technologies.

US seeks to counter China's economic influence (EFE / EPA / ROMAN PILIPEY)
US seeks to counter China’s economic influence (EFE / EPA / ROMAN PILIPEY)

The U.S. program also authorizes $ 120 billion in funding for the National Science Foundation, a government agency, to conduct research in key areas such as artificial intelligence and quantum science.

This includes a $ 1,500 million endowment for 5G development, Is one of the main sources of tension between China and the United States.

Biden management has been looking for ways to increase domestic production of many industrial components, such as chips, to reduce dependence on foreign suppliers for months.

The US president issued an executive order in February asking federal agencies to investigate the matter within 100 days.

See also  They are issuing an arrest warrant for Johnny Portorial, a lawyer accused of fraud against the "Rosario family".

Tuesday, Anthony Blingen, President of US Diplomacy, praised the work of Congress with Beijing, including the Industrial Action Plan to “Strengthen America.”.

“Investments in our technology, investments in our workers, investments in innovation and research and development, all of these together are how we approach China from a position of strength.”

With information from AFP

Continue reading:

U.S. Laboratory investigation concludes that Wuhan’s corona virus leak theory is possible